KONTAN.CO.ID - JAKARTA. PT CIMB Niaga Auto Finance (CNAF) noted that financing for new cars contributed 24% or IDR 1.93 trillion in October 2024.

CNAF President Director Ristiawan Suherman said that the company's total financing distribution was recorded at IDR 7.92 trillion or increased by 14% annually or year on year (YoY) in October 2024.

"Financing distribution for used cars still has the largest contribution to the total distribution, which is 64% reaching IDR 5.05 trillion in October," Ristiawan told Kontan, Monday (11/11).

While the rest is multipurpose financing or refinancing which contributed 12% or IDR 930 billion.

Ristiawan said that his party continues to prioritize digitalization which makes transactions easy, safe, efficient, and affordable.

In addition, CNAF also maintains a healthy portfolio by implementing a risk-based pricing method or setting interest rates that are adjusted to the customer's risk profile.

Previously, CNAF had targeted new financing distribution of IDR 9 trillion throughout 2024.

As of October 2024, the financing distribution had reached 88% of the total target that had been set.

"CNAF remains optimistic that it will be able to close 2024 with positive and healthy growth performance," he said.